According to the U.S. Bureau of Labor Statistics, prices for new and used motor vehicles were 1.25% higher in 2020 versus 2017 (a $250.47 difference in value).
Between 2017 and 2020: New and used vehicles experienced an average inflation rate of 0.42% per year. In other words, new and used vehicles costing $20,000 in the year 2017 would cost $20,250.47 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.79% during this same period, inflation for new and used vehicles was lower.
In the year 2017: Pricing changed by -1.31%, which is below the average yearly change for new and used vehicles during the 2017-2020 time period. Compared to inflation for all items in 2017 (2.13%), inflation for new and used vehicles was much lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for New and used motor vehicles:
Below are calculations of equivalent buying power for New and used vehicles, over time, for $20000 beginning in 2017. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|